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The benefits your employees really want

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Last year, Facebook made news headlines after CEO Mark Zuckerberg announced he will be taking two months off following the birth of his daughter.

In fact, the technology giant offered four months’ paid paternity leave to all staff in its global offices.

But are such benefits really what employees want from their bosses?

To help employers understand more about the type of benefits really in demand by employees today, Glassdoor’s benefit review identified some of the hottest benefits and perks in a recent analysis of thousands of benefits reviews shared by employees on Glassdoor since August 2014 and compiled a ranking of the top 20 companies with the best benefits and perks.

Here are the top most important benefits for staff, according to Glassdoor’s benefit review

Health care insurance (e.g. medical, dental): 40%

Vacation/paid time off: 37%

Performance bonus: 35%

Paid sick days: 32%

401(k) plan, retirement plan and/or pension: 31%

Other amazing benefits include access to executive and life coaching services outside of the company, travelling benefits, shipping of breast milk home, excellent free food at the company’s cafeteria and many more.

Glassdoor added that its remains key today for bosses to maintain a competitive offering of benefits.

This is especially because as another recent study from Glassdoor found, more than half (57%) of professionals said benefits and perks are among their top considerations before accepting a job, and four in five workers say they would prefer new benefits over a pay raise.

In order to cater for the needs of the emerging Millennial workforce, a small but increasing number of companies are offering help with student loan repayment as part of the company’s benefit package.  A report by  Society for Human Resource Management estimated that 3% of private sector businesses in the United States are offering to help Millennial workers who often found themselves in heavy college debts as they begin their career.

ALSO READ: What’s the ROI on your employee benefits plan?

Here are some other highlights of what some forward thinking companies are doing to impress their workforce:

Netflix offers one paid year of maternity and paternity leave to new parents. They also allow parents to return part-time or full-time and take leave as needed throughout the year.

PwC offers its employees $1,200 per year for student loan debt reimbursement.

Twitter is well-known for providing perks such as three catered meals a day, but some lesser-known benefits include on-site acupuncture and improv classes.

Accenture covers gender reassignment for their employees as part of their commitment to LGBT rights and diversity.

Walt Disney Company wants its employees and their friends and family to enjoy the “Happiest Place on Earth” as much as their visitors by offering free admission to its parks, as well as discounts on hotels and merchandise.

Facebook provides $4,000 in “Baby Cash” to employees with a newborn.

Adobe shuts down the entire company for one week in December and one week over the summer.

Google provides the surviving spouse or partner of a deceased employee 50% of their salary for the next 10 years.

ALSO READ: Hong Kongers are unhappy with their pay and benefits

Image: Shutterstock

Human Resources magazine and the HR Bulletin daily email newsletter:
Asia's only regional HR print and digital media brand.
Register for your FREE subscription now »

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